The rupee inched up against the dollar on the money market on Wednesday, dealers said. The rupee improved after gaining one-paisa in terms of the dollar for buying and selling at Rs 104.92 and Rs 104.94 respectively, they said.
In the third Asian trade, the dollar retreated on Wednesday as crude oil prices descended to near 13-year lows, hitting risk asset markets and putting safe-haven currencies such as the Japanese yen back in favour. The dollar was down 0.4 percent at 117.20 yen. The greenback had risen as far as 118.115 overnight on a bounce in crude oil prices. But it gave up those gains after the rise in the battered commodity proved temporary.
The dollar also slipped against the Swiss franc, another safe haven. The euro rose 0.3 percent to $1.0937. With the ebb and flow in risk appetite having dictated movements in major currencies so far this year, the focus remained on the fortunes of the commodity and equity markets.
The dollar was trading against the Indian rupee at Rs 67.93, the greenback was at 4.3680 in relation to the Malaysian ringgit and the US currency was at 6.5798 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar: 78.50-78.50 (previous 78.50-78.50).

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Open Bid       Rs 106.10
Open Offer     Rs 106.40
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Bid Rate       Rs 104.92
Offer Rate     Rs 104.94
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